Since the start of 2020, Eli Lilly’s (NYSE: LLY) stock price chart has been straight up and to the right, up 489.83% and currently trading at $779.82.

The company has been around since 1876 and the stock didn’t go public until 1952 but in the last 4 years, Eli Lilly went from a $100 billion market capitalization to $740 billion today, which also makes it a potential stock split stock. 

However, as investors, we care about the stock price years down the line and what Eli Lilly will do in the next 3 to 5 years and beyond.

That is why 24/7 Wall Street looks at projected revenue and net income to give you our best estimate of future stock prices from 2025 to 2030. 

Other “experts” look at past growth rates and assign future stock prices to those past numbers. However, we will walk you through our assumptions and give you the key drivers we see propelling Eli Lilly’s stock in the future.

Recent Eli Lilly Stock Updates and News

12/20/2024

The FDA has approved Eli Lilly’s obesity drug, Zepbound (tirzepatide), as the first treatment for obstructive sleep apnea in the U.S.

12/19/2024

The Food and Drug Administration (FDA) has reaffirmed its earlier decision that the shortage of tirzepatide (the active ingredient in Eli Lilly’s diabetes and weight loss drugs Mounjaro and Zepbound) has ended. This decision means that most compounding pharmacies will be required to cease production of compounded tirzepatide within the next 90 days.

12/18/2024

Kinsula (donanemab-azbt), Eli Lilly’s Alzheimer’s medication, has been approved by China’s National Medical Products Administration. In addition, EVA Pharma, in collaboration with Eli Lilly, has received approval from the Egyptian Drug Authority for its insulin glargine injection. This approval marks a milestone in providing affordable insulin to millions of people with diabetes in low- and middle-income countries.

12/16/2024

Eli Lilly’s Omvoh (mirikizumab) has been recommended by the European Medicines Agency’s Committee for Medicinal Products for Human Use to treat adults with moderate to severe Crohn’s disease. The drug was previously approved for ulcerative colitis in the U.S., Japan, and the EU.

12/13/2024

Recent reports show that Eli Lilly’s weight-loss drug Mounjaro is more popular in the UK than Wegovy by Novo Nordisk. Surveys suggest that users perceive Mounjaro to be more effective in weight loss, and online pharmacies have seen a shift to Mounjaro prescriptions.

12/12/2024

Ro, a telehealth company, has teamed up with Eli Lilly to improve patient access to Zepbound (tirzepatide). Through LillyDirect, patients can now obtain Zepbound at a self-pay price, making it more affordable.

12/11/2024

Eli Lilly’s experimental breast cancer drug, imlunestrant, has shown promising results in a Phase 3 clinical trial. When combined with Verezenio, the drug significantly extended the lives of patients with HER2-negative, ER-positive breast cancer compared to standard hormone-suppressing therapies.

12/10/2024

Eli Lilly plans to investigate the potential use of its popular weight-loss medications to treat addictive behaviors like smoking, alcohol abuse, and drug addiction. CEO Dave Ricks stated that these medications may have broader applications beyond weight loss and that the company will initiate clinical trials to explore these possibilities.

12/9/2024

Eli Lilly is planning to introduce Tirzepatide (or Mounjaro), the company’s diabetes and obesity drug, to the Indian market next year. The company has already received marketing authorization from Indian regulatory authorities for both Type 2 diabetes and obesity indications.

12/6/2024

Eli Lilly is investing $3 billion to expand its recently acquired manufacturing facility in Wisconsin. This expansion aims to increase production of the company’s highly successful diabetes and weight-loss medications, Mounjaro and Zepbound. The expansion will also add 750 new jobs to the existing 100-person time.

Eli Lilly’s Recent Stock Success 

How did Eli Lilly’s stock price soar so much in the past few years? Let’s take a look at the numbers: 

	Share Price	Revenues*	Net Income*
2016	$80.36	$21.22	$2.74
2017	$77.55	$19.94	($0.21)
2018	$122.13	$21.49	$3.23
2019	$140.83	$22.32	$8.32
2020	$206.46	$24.54	$6.19
2021	$238.31	$28.32	$5.58
2022	329.07	$28.54	$6.25
2023	$745.91	$34.12	$5.24

*Revenue and Net Income in Billions

Since 2016, Eli Lilly’s revenue grew by 60% but income grew by 91%. Typically you wouldn’t expect a company growing at its top line by 7% annually to see an 828% increase in share price, however, investor sentiment for the next line of drugs front ran the stock price. 

For example, in 2016 Eli Lilly was trading 13 times the trailing 12 months earnings and the market has increased its valuation each year and currently trades at a 125 times earnings multiple. 

This raises the valid question, is Eli Lilly overvalued or will future revenues make up for the expensive valuation? 

3 Key Drivers of Eli Lilly Stock

1. Innovated Drug Pipeline: The current drug pipeline is loaded with several very high-potential drugs in development. Mounjaro, Zepbound, and Jardiance in the cardiometabolic category, Taltz in immunology, and Verzenio in oncology are the future of Eli Lilly’s growth. While the aforementioned are the safer bets, the company has a handful of other drugs that could hold blockbuster potential.  
2. Strategic Acquisitions:  The acquisition of Morphic, with its promising drug candidate MORF-057, is a testament to Lilly’s strategic vision. This drug, if successful in late-stage trials, could become a major success in the treatment of inflammatory bowel disease (IBD). Lilly’s focus on acquiring mid-sized companies (13 since 2020) with promising pipelines has bolstered its own research and development efforts, positioning it well for future growth.
3. Operational Efficiency: With a sound balance sheet, Eli Lilly should continue to improve operational efficiency and manage costs to have net income growth rates above revenue growth.

Eli Lilly (LLY) Stock Price Prediction in 2025

The current Wall Street consensus 1-year price target of Eli Lilly stock is $1030.00, which is 32.08% higher than today’s price of $779.82. Of the 26 analysts covering Eli Lilly stock, the current rating is 1.67 or “Outperform” with 1-year price targets as high as $1,100 and as low as $540.00. 

24/7 Wall Street sets its 1-year price target at $1,040. Taking a look at the sum of its parts, we see Eli Lilly’s vertices valued as follows:

Endocrinology	$735/ share
Oncology	$122/ Share
Cardiovascular	$4/ Share
Neuroscience	$16/ Share
Immunology	$38/ Share
Others and Pipeline	$110/ Share
Cash	$17/ Share

Eli Lilly’s Share Price Estimates 2025-2030

Valuing Eli Lilly’s stock price for the coming years, we will take a look at expected revenue and net income and give our best estimate of the market value of the company by assigning a price-to-earnings multiple.

	Revenue	Net Income	EPS
2025	$52.8	$17.29	19.11
2026	$62.5	$22.49	25.03
2027	$70.87	$27.12	30.39
2028	$80.68	$32.2	25.97
2029	$87.99	$36.45	40.58
2030	$96.67	$41.12	46.29

*Revenue and net income reported in billions 

How Eli Lilly’s Next 5 Years Could Play Out

We expect Eli Lilly’s P/E ratio in 2025 to be 60 with an EPS of $19.11, resulting in a price target of $1140.00 This prediction is based on strong revenue growth of 18.37% to $52.80 billion and net income expansion to $17.29 billion, continuing the upward trajectory from previous years.

For 2026, we anticipate a P/E ratio of 50 with an EPS of $25.03, leading to a price target of $1250.00. This reflects significant revenue growth of 18.37% to $62.50 billion and an increase in net income to $22.49 billion, driving higher earnings per share.

Heading into 2027, we project the P/E ratio to remain at 50, with EPS increasing to $30.39. This results in a price target of $1520.00. Continued revenue growth of 13.39% to $70.87 billion and net income expansion to $27.12 billion justifies this substantial increase in stock price.

With an EPS of $25.97 and a P/E ratio of 50 in 2028, we forecast the stock price to be $1300.00. A slight dip in EPS growth is expected, but sustained strong performance in net income to $32.20 billion and revenue growth of 13.84% to $80.68 billion keeps the stock highly valued.

By 2029, we estimate Eli Lilly’s EPS to rise to $40.58, with the P/E ratio adjusting to 40. This gives us a price target of $1623.00. The continuous revenue growth of 9.06% to $87.99 billion and net income expansion to $36.45 billion supports this higher valuation.

Eli Lilly Stocks Price Target for 2030

Price Target: $1850.00
Upside: 137.23%
By 2030, we estimate Eli Lilly’s EPS to rise to $46.29, with the P/E ratio adjusting to 40. This gives us a price target of $1850.00. The continuous revenue growth of 9.86% to $96.67 billion and net income expansion to $41.12 billion supports this higher valuation.

Year	Price Target	% Change From Current Price
2025	$1140.00	Upside of 46.19%
2026	$1250.00	Upside of 60.29%
2027	$1520.00	Upside of 94.92%
2028	$1300.00	Upside of 66.71%
2029	$1623.00	Upside of 108.12%
2030	$1850.00	Upside of 137.23%

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